Pedestrians pass in front of a CVS site in New York.
Scott Mlyn | CNBC
CVS Health reported third-quarter revenues that beat Wall State's estimates when Aetna insurance business contributed 10% to its profits.
This is what the company reported compared to what Wall Street expected, based on a survey of Refinitive analysts:
- Earnings per share: $ 1.84, adjusted, against $ 1.77 expected
- Revenue: $ $ 63.81
CVS reported third quarter net income of $ 1.53 billion, or $ 1.17 per share, up 10% from $ 1.39 billion, or 1.36 dollars per share the year before. Excluding one-off items, such as a cost of closing stores, CVS earned $ 1.84 per share, over $ 1.77 per share expected by analysts surveyed by Refinitive.
Revenues reached $ 64.81 billion, a sharp increase from the previous year, before CVS acquired health insurance company Aetna in November last year.
"As we approach the first anniversary of the Aetna acquisition, we are increasingly confident in the strength of our broad and differentiated assets as a combined company and our ability to deliver compelling value to our customers and the communities we serve," said CVS CEO Larry Merlo in a statement.
The company raised its adjusted full year earnings to between $ 6.97 and $ 7.05 per share from the previously guided range $ 6.89 to $ 7 per share.  Shares of CVS rose more than 2% Tuesday in premarket trading.
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